Both Russia and the EU are undertaking significant changes in foreign trade relations. Russia seeks WTO accession and the EU has concluded negotiations enlarging the union with ten new members. Against this background, what economic relationship can EU and Russia develop? The Paper analyses the...

We carry out an indirect inference test of two versions of a computable general equilibrium (CGE) model of world trade. One of these, the 'classical' model,is well-known as the Heckscher-Ohlin-Samuelson model of world trade, in which countries trade homogeneous products in world markets and...

With ever-increasing political tensions between China and Russia on one side and the EU and the USA on the other, it only seems a matter of time until protectionist policies cause a decoupling of global value chains. This paper uses a computable general equilibrium trade model calibrated with...

With ever-increasing political tensions between China and Russia on one side and the EU and the US on the other, it only seems a matter of time until protectionist policies cause a decoupling of global value chains. This paper uses a computable general equilibrium trade model calibrated with the...

We carry out an indirect inference test of two versions of a computable general equilibrium (CGE) model of world trade. One of these, the ‘classical’ model,is well-known as the Heckscher-Ohlin-Samuelson model of world trade, in which countries trade homogeneous products in world markets and...

With ever-increasing political tensions between China and Russia on one side and the EU and the US on the other, it only seems a matter of time until protectionist policies cause a decoupling of global value chains. This paper uses a computable general equilibrium trade model calibrated with the...

The global economic crisis has forced a major rethinking of the respective roles of governments and markets in the processes of trade and growth. Indeed, industrial policy seems to be back in fashion—or, at least, talking about it is. But a renewed “activism” by government in the trade and...

This paper reviews a sample of studies on the long-term impact of Brexit on GDP and welfare for both the UK and EU economies. It considers only official and academic studies published before the end of November 2018. The paper highlights the very wide range of results, especially for the UK,...

This paper reviews a sample of studies on the long-term impact of Brexit on GDP and welfare for both the UK and EU economies. It considers only official and academic studies published before the end of November 2018. The paper highlights the very wide range of results, especially for the UK,...

The paper basically aims to clarify the level of price competitiveness of the Turkish firms towards the EU Single Market in aggregate level. Thus it naturally examines the demand for exports and imports for Turkey in relation to the EU. In order to model the trade between Turkey and the EU, we...